AcuityTec Unveils CardTrust: Revolutionizing Credit Card Verification and Fraud Prevention

MONTREAL, August 14, 2024 (Newswire.com)
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AcuityTec, a leader in advanced fraud prevention solutions, is proud to announce the launch of CardTrust, a groundbreaking product designed to streamline credit card transaction verifications and combat fraud. By leveraging minimal customer data, CardTrust offers comprehensive security, significantly reducing the complexities and costs associated with KYC (Know Your Customer) procedures and ensuring secure transactions.

CardTrust transforms the traditional approach to credit card verification by utilizing the BIN (first six digits of a card number), the last four digits of a card number, and a ZIP code. This innovative solution cross-references transaction data with issuer bank records and customer KYC data, ensuring each transaction is legitimate and secure. Additionally, CardTrust automatically performs name, address, and phone number verifications provided in the transaction for up-to-date KYC for every credit card transaction processed and elite fraud defense. 

“Our mission at AcuityTec has always been to provide cutting-edge solutions that address the evolving challenges of fraud prevention. Providing a solution that enables instant cross-analysis of KYC across banking data with zero friction on customers but elite heightened credit card transactional verification is a game changer in the fintech market. CardTrust simplifies the verification process, reduces fraud defense burden on our clients, and brings confidence to credit card transactions, which can subsequently dramatically reduce chargebacks.” – Alfredo Solis, Managing Director of AcuityTec.

Critical Benefits of CardTrust
1. Streamlined Verification: CardTrust processes for a seamless customer experience with zero friction, reducing operational overhead while accelerating the verification process, maintaining the best customer experience and minimizing drop-offs during card transactions. 

2. Cost Efficiency: High KYC costs are a significant pain point for many businesses. CardTrust mitigates these expenses by offering an efficient and effective verification method that leverages existing KYC, bank and transactional data, reducing the need for extensive manual checks. 

3. Comprehensive Fraud Prevention: Each transaction is built with multi-layered risk analysis and machine learning to flag suspicious activity. High-risk transactions are placed within the queue before processing, ensuring identification of potential fraud and addressing it immediately, maintaining the integrity of payment systems. 

4. Real-Time Monitoring and Alerts: Enjoy a harmonious view of your transactions with continuous real-time monitoring and instant alert notifications for suspicious activity, enabling swift action to prevent fraud and secure transactions.

5. Customizable Reporting: Generate detailed, custom reports to enhance the ability to analyze transactional data, track fraud patterns, and refine risk management strategies effectively.

6. Bolstered Customer Profile: CardTrust enriches customer profiles with comprehensive credit card transactional history and up-to-date KYC information, allowing a more accurate assessment of customer behavior and risk personalized security measures and improved customer trust. 

“Our clients face increasing challenges in verifying credit card transactions and managing KYC requirements,” added Solis. “CardTrust simplifies these processes and provides a robust layer of security for enhanced trust.”

For more information about AcuiyTec’s CardTrust and to schedule a demo, please contact sales@acuitytec.com or visit www.acuitytec.com.

For more information regarding this press release, contact marketing@acuitytec.com

Source: AcuityTec